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France: Gov’t Report Recommends $570 Million Blockchain Investment

French political deputies want to spend €500 million (about $569 million) on state-level blockchain deployments over the next three years, local daily news outlet Les Echos reported Dec. 12.

Citing a report published Wednesday, the publication said both blockchain and cryptocurrency interaction was high on the agenda of two members of parliament (MP), who are pushing the initiative forward in an effort to make France a “Blockchain Nation.” The politicians are also looking to play an active role in fostering Bitcoin mining in the country.

“2018 was the ‘year zero’ for blockchain popularization in France. 2019 should be the year that ecosystem emerges,” it quotes co-author MP Jean-Michel Mis as saying:

he report’s authors also demand France become a more attractive environment for miners.

Specifically, they wish to “recognize cryptocurrency mining as an electro-intensive activity,” allowing private mining enterprises access to beneficial power tariffs.

“We should have our own mining farms in France,” Mis added.

France continues to signal mixed messages when it comes to cryptocurrency. Last month, the country’s central bank failed to endorse a plan to allow thousands of tobacco kiosks to sell Bitcoin (BTC) from this January, despite the plans notionally still going ahead.

Senior lawmakers have called for an international push to regulate the industry, while cautioning against heavy-handed approaches.

A suspected scam which threatens to blow up buildings unless recipients pay a Bitcoin (BTC) ransom caught the attention of the United States’ government Dec. 13.
The scam, which centers on anonymous emails demanding payment of $20,000 in Bitcoin or face a “mercenary” detonating a device in “your building,” has appeared throughout the world.

Now, the U.S. National Cybersecurity and Communications Integration Center (NCCIC) opted to release dedicated advice to victims, advising the only action necessary on receipt of an email was to inform the FBI.

The NCCIC is “aware of a worldwide email campaign targeting businesses and organizations with bomb threats,” it said.

Prior to the government acknowledgment, media sources had reported on the scheme, including cybersecurity publication and research outlet Krebs On Security, which published the full text of the email.

“My mercenary keeps the building under the control. If he notices any unusual behavior or emergency he will blow up the bomb,” an excerpt reads.

Multiple campaigns continue to target unwitting internet users both within and outside the cryptocurrency community.

As Cointelegraph reported, 2018 has seen an almost 500 percent rise in the number of flagged hacking schemes known as “cryptojacking” — the process by which a device is commandeered to mine or steal cryptocurrency.

Phishing scams — hackers masquerading as known entities to trick users into transferring coins to a fake address — have spread from emails to social media platforms such as Twitter en masse this year.

New US Chief of Staff: Bitcoin is Good, ‘Not Manipulable by Any Government’

his week, following the scheduled leave of John F. Kelly, United States President Donald Trump has chosen the pro-Bitcoin Mick Mulvaney to serve as the acting White House Chief of Staff beginning 2019.

According to the Washington Post columnist Matt O’Brien, Mulvaney has been vocal about his support of Bitcoin (BTC) and in a speech covered by Mother Jones praised the decentralized nature of Bitcoin as a consensus currency.

In 2016, Mulvaney reportedly said that the Federal Reserve “effectively devalued the dollar” and emphasized that the exercise of such control is not possible with a cryptocurrency like Bitcoin that is “not manipulable by any government.”

Big Crypto Recovery as EOS Surges 35%: Can Bitcoin Recover to $4,000?

Over the last 24 hours, the crypto market demonstrated one of the strongest single-day rallies since November, as Bitcoin (BTC) rebounded by more than 11 percent from $3,181 to $3,541.

EOS, which was the sixth most valuable cryptocurrency last week ranked behind Tether (USDT) and Stellar (XLM) overtook Stellar with a staggering 35 percent price surge from $1.94 to $2.62.

Since achieving its daily peak at $2.62, the EOS price has fallen from $2.62 to $2.42, closing the day’s gain at around 25 percent.

What Triggered Bitcoin Rally?
As the Bitcoin price surged by 11 percent, most major cryptocurrencies and ERC20 tokens experienced large gains in the range of 10 to 40 percent.

Some analysts have speculated that the squeeze of short contracts on margin trading platforms led most cryptocurrencies including Bitcoin that demonstrated extremely oversold conditions to endure a corrective rally.

The 11 percent price surge of Bitcoin reversed the short-term trend of the market, breaking out of the trend of free falling without significant sell pressure and volume.

While Bitcoin could potentially rebound to $4,000 to $5,000 in the weeks to come, a cryptocurrency trader with an online alias “The Crypto Dog” emphasized that the macro trend still remains bearish.

The trader added that the current trend reversal will likely not lead to an all-time high and that most rallies could fail in the short-term. The trader said:

“If this turns mega bullish and we start to reach $5,000 to $6,000: do not forget that we are in a macro bear market. It’s not going to just go up and break out and go on to new ATHs. Rallies will fail, prepare for it.”

Still, for the short-term trend of the market, the corrective rally of Bitcoin was highly beneficial. With the momentum set by the dominant cryptocurrency, Ripple (XRP), Cardano (ADA), and many other smaller cryptocurrencies have shown large gains against the U.S. dollar.

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